A last will and testament is the foundation of estate planning for most individuals, but there are other essential documents to create and sign as well. Unlike a will, which distributes assets after an individual's death, these documents help a person manage financial...
Month: April 2020
Is your executor right for your estate?
When Michigan residents make an estate plan, finding an executor is key. This is one of the first steps you should take. An executor will help manage your estate after your passing. They handle matters related to your will and assets. Today we will look at ways to...
Do you have nonprobate assets?
Probate is the process whereby your executor manages and distributes your assets according to the law with the court's oversight. Not every asset you own will be under the authority of the probate court. According to the State Bar of Michigan, there are certain assets...
Bingham Legal Group working remotely
The Bingham Legal Group began working remotely on March 16, 2020 and stepped into the forefront of doing business remotely and virtually. It isn’t business as usual for anyone, but the Bingham Legal Group is here to help you, your family and your business. Helping...
Do I need a living will if I already have a standard will?
A last will and testament is a mainstay for Michigan adults. While this document can bring you peace of mind, it does not cover everything you may need while still alive. A living will is a type of advance directive that makes your wishes a reality when you cannot...
Why should I consider a trust for my minor children?
If you have minor children, it is important that you create an estate plan. You want to make sure you can take care of them even after your death, and since death is so unpredictable, you want a plan in place right now. Only through a proper plan can you ensure your...
Can I use my business to plan my estate?
A family limited partnership in Michigan may be one estate-planning device to protect your assets and ensure that your family reaps the benefits of your hard work. Many business owners use this arrangement to avoid probate and distribute finances both during and after...
